Bharat Road Network Ltd. · NSE:BRNL
Bharat Road Network — Q3 FY2018 Earnings Presentation
27 slides from Bharat Road Network's earnings presentation, February 2018
Slide 1: Enhancing Connectivity
Enhancing Connectivity Bharat Road Network Limited (BRNL) Behtar Raaste Badhta Bharat Investor Presentation | FEB 2018 1
Slide 2: Safe Harbour
Safe Harbour Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as "will", "aim", "will likely result", "would", "believe", "may", "expect", "will continue", "anticipate", "estimate", "intend", "
Slide 3: Q3FY18 Standalone Operating & Financial Highlights
Q3FY18 Standalone Operating & Financial Highlights Revenue (Rs mn) EBITDA (Rs mn) PAT (Rs mn) 185 108.9 240 214 190 80 200 150 160 60 110 120 40 80 61 70 34 20 40 30 8.4 0 -10 0 Q3FY17 Q3FY18 Q3FY17 Q3FY18 Q3FY17 Q3FY18 Operational Highlights Continued Focus on providing strategic support to assoc
Slide 4: Building scale
Building scale • Incorporated in 2006, BRNL is one of India’s leading Roads and Highways BOT Company • Managing over INR 67 Bn of road assets aggregating 2,095 lane kms • Diversified operational projects with long residual life • Professionally managed company governed by experienced Board of Direct
Slide 5: In a growing economy with strong infrastructure impetus…
In a growing economy with strong infrastructure impetus… India has world’s 2nd largest road network aggregating ~5.2 million km of roads carrying about 86% of country’s passenger traffic and close to 65% of freight traffic. The Union Cabinet recently approved mega US$ 106.7 bn (Rs 7 lakh crore)
Slide 6: …with significant focus on Roads
…with significant focus on Roads The Union Cabinet recently cleared US$ 106.7 bn (Rs 7 lakh crore) project to develop 83,677 km highways in 5 years which includes the Bharatmala project thus providing much needed booster dose to the Road Industry. The Union Budget 2018 has allocated US$ 20.0 bn (Rs
Slide 7: Industry Growth Drivers
Industry Growth Drivers Movement of freight by roads is growing at a rapid rate thus creating the need for adequate road network to cater Burgeoning Freight Volume to the increased traffic and movement of goods. E-commerce industry expected to grow at an estimated 40-44% CAGR during 2014-15 to 2
Slide 8: About SREI
About SREI Our Corporate Promoter • India’s leading holistic infrastructure institution engaged in the sector for about three decades. • Actively involved in infrastructure project finance, advisory and development, infrastructure equipment finance, venture capital, capital market, insurance broking
Slide 9: BRNL – A Snapshot
BRNL – A Snapshot One of India’s leading Roads & Highways BOT company • Focused on identification, bidding or acquiring, development, implementation, operation and maintenance of roads and highways projects. • Geographically diversified portfolio spread across Uttar Pradesh, Kerala, Haryana, Madhya
Slide 10: BRNL - A Leading Roads & Highways BOT company
BRNL - A Leading Roads & Highways BOT company Areas of Operations Shareholding Project Identification Project Financing Project Design & Development Locating right projects for bidding or Debt Syndication, Valuations & Design & Development for Highways and Promoter & acquiring Financial Modelling st
Slide 11: Our Value Proposition
Our Value Proposition 11
Slide 12: Key Value drivers
Key Value drivers Strong Operating Asset Portfolio with Long Residual Strong and Experienced Corporate Promoter Life Corporate Promoter SREI is one of India’s leading Managing over INR 67 Bn of road assets aggregating 2,095 1 infrastructure financing institution with about 3 lane kms across 6 st
Slide 13: Road to Success
Road to Success Growth Platform Yield Platform Acquire Cash Generating Assets Push Assets to Yield Platform Exit Assets by taking advantage of (Organic & Inorganic Growth) yield arbitrage Yield Income Additional yield opportunity Increased Cash Flow Ramping total yield BRNL envisioned as a
Slide 14: Strong Upside Possibilities
Strong Upside Possibilities Smart Cities, Industrial Projects/SEZ and other Infra projects to drive growth 01 Traffic Growth SJEPL: Improvement in mining traffic and upcoming smart cities in Bhubaneshwar & Raipur key trigger. GAEPL: Large upcoming infra projects including Eastern Peripheral Expr
Slide 15: Portfolio Snapshot
Portfolio Snapshot Asset details SJEPL GAEPL GIPL KEPL MTPL STPL TOTAL State Odisha U.P. Kerala Haryana M.P Maharashtra - Asset details NH/SH no. NH-5 NH-91 NH-47 NH-71 SH-27 NH-9 - BRNL stake 40.00% 39.00% 100.00% 49.00% 48.00% 99.02% - Simplex -34%; PNC -35%; JMC and others - Varaha -26% Other sha
Slide 16: SJEPL
SJEPL #1 : 6 Laning of Chandikhole Bhubaneswar Section of NH-5 Project Location Project Snapshot Located on the NH-5 between Chandikhol and Bhubaneswar The end point of the project road at Chandikhol is a major intersection, where NH-200 and NH-5A cross NH-5 through an overpass. NH-200 connects
Slide 17: GAEPL
GAEPL #2 : 4/6 Laning of Ghaziabad-Aligarh Section of NH – 91 Project Location Project Snapshot The GAEPL is located on the NH-91, connects Ghaziabad to Aligarh in UP Ghaziabad is hub of engineering, electronics, and leather and textile goods Aligarh is an important business centre of Uttar Pr
Slide 18: GIPL
GIPL #3 : 4 Laning of Thrissur – Angamali, NH47 Project Location Project Snapshot GIPL Project Road is a part of NH-47 which originates at Kanyakumari and ends at Salem Connects the cities of Kochi, Thrissur and Coimbatore and runs in proximity to the Cochin Refinery & Cochin Port Development ac
Slide 19: KEPL
KEPL #4 : 4 Laning of Rohtak-Bawal section of NH-71 Project Location Project Project Snapshot Snapshot KEPL Project Road is a part of NH-71, which starts at Jalandhar and ends at NH-8 near Bawal. On its way it connects the cities of Moga, Sangrur and Rohtak Development activity Development activit
Slide 20: MTPL
MTPL #5 : 4 Laning of Indore – Ujjain Road on SH-27 Project Location Project Snapshot Part of SH-27 which connects Rajasthan border in the north and Maharashtra border in the south, connecting the cities of Ujjain, Indore & Pitampur on its way Indore, largest and most populous city in Madhya Pra
Slide 21: STPL (Under Construction)
STPL (Under Construction) #6 : 4 Laning of Solapur Maharashtra/Karnataka Border Section of NH9 Project Location Project Snapshot Solapur project is part of NH-9 which connects west and east passing through major cities such as Vijayawada, Hyderabad, Pune and provides onward connectivity to Mumbai
Slide 22: Financial Statement (Standalone)
Financial Statement (Standalone) Income Statement Highlights Particulars (Rs mn) Q3FY18 Q3FY17 YoY (%) Q2FY18 QoQ (%) 9M FY18 9M FY17 YoY (%) Total Revenue 214.23 61.40 249% 146.00 47% 398.25 140.42 184% Total Expense 28.93 27.63 5% 21.00 38% 72.74 48.04 51% EBITDA 185.30 33.77 449% 125.00 48% 325.5
Slide 23: Operating Assets’ Performance (SPV-100%)
Operating Assets’ Performance (SPV-100%) Q3 FY18 9MS FY18 FY17 Particulars (Rs mn) GAEPL GIPL KEPL MTPL SJEPL GAEPL GIPL KEPL MTPL SJEPL GAEPL GIPL KEPL MTPL SJEPL 100% 100% 100% 100% 100% TOTAL 100% 100% 100% 100% 100% TOTAL 100% 100% 100% 100% 100% TOTAL Toll Revenue 512 336 245 71 379 1,543 1,434
Slide 24: Operating Assets’ Performance (SPV-Proportionate)
Operating Assets’ Performance (SPV-Proportionate) Q3 FY18 9MS FY18 FY17 Particulars (Rs mn) GAEPL GIPL KEPL MTPL SJEPL GAEPL GIPL KEPL MTPL SJEPL GAEPL GIPL KEPL MTPL SJEPL TOTAL TOTAL TOTAL 39% 100% 49% 48% 40% 39% 100% 49% 48% 40% 39% 49% 49% 48% 40% Toll Revenue 200 336 120 34 151 841 559 993 342
Slide 25: Toll Revenue of Portfolio Assets
Toll Revenue of Portfolio Assets Toll Revenue Q3 FY18 Q3 FY17 YoY (%) 9MS FY18 9MS FY17 YoY (%) FY 16-17 (Rs mn) GAEPL 512 280 82.6% 1,434 954 50.3% 1,480 GIPL 336 243 38.4% 993 851 16.7% 1,154 KEPL 245 148 65.5% 699 551 26.8% 769 MTPL 71 42 69.4% 188 119 57.5% 178 SJEPL 379 179 111.5% 1,103 635 73.
Slide 26: Traffic Volume – Average Daily PCU
Traffic Volume – Average Daily PCU Project Q3FY18 Q3FY17 YoY (%) 9MFY18 9MFY17 YoY (%) 9MFY18 FY 17 % Growth GAEPL 28,240 26,742 5.6% 28,337 25,569 10.8% 28,337 26,022 8.9% GIPL 57,564 60,261 -4.5% 60,298 59,576 1.2% 60,298 59,843 0.8% KEPL 26,126 20,132 29.8% 24,253 19,118 26.9% 24,253 20,152 20.4%
Slide 27: Thank You
Thank You For Details Contact: Bajrang Kumar Choudhary Binay Sarda Managing Director Christensen IR bajrang.choudhary@brnl.in bsarda@christensenir.com Tel: +91 (33) 6602 3609 Tel: +91 (22) 6452 2086 M: +91 9920893764 Corporate Office Bharat Road Network Limited Vishwakarma 86C Topsia Road (South) Ko
Bharat Road Network — Q3 FY2018 Earnings Presentation on 6ix